ARDX vs. OLMA

Last updated Jun 4, 2026

ARDX (Ardelyx, Inc.) and OLMA (Olema Pharmaceuticals, Inc.) are both stocks. Both operate in the Biotechnology industry within the Healthcare sector. Over the past 5 years, ARDX returned -4.29%/yr vs -17.63%/yr for OLMA. At a 0.26 correlation, their price movements are largely independent.

Performance

ARDX vs. OLMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ardelyx, Inc. (ARDX) and Olema Pharmaceuticals, Inc. (OLMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARDX achieves a -7.03% return, which is significantly higher than OLMA's -57.96% return.

ARDX

• 1D: -1.81%
• 1M: -25.75%
• YTD: -7.03%
• 6M: -6.07%
• 1Y: 37.91%
• 3Y*: 15.47%
• 5Y*: -4.29%
• 10Y*: -4.98%

OLMA

• 1D: -1.68%
• 1M: -28.16%
• YTD: -57.96%
• 6M: -61.43%
• 1Y: 159.51%
• 3Y*: 22.84%
• 5Y*: -17.63%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARDX vs. OLMA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ARDX Ardelyx, Inc.	-7.03%	14.99%	-18.23%	117.54%	159.09%	-83.00%	13.31%
OLMA Olema Pharmaceuticals, Inc.	-57.96%	328.82%	-58.45%	472.65%	-73.82%	-80.53%	-1.88%

Correlation

The correlation between ARDX and OLMA is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since Nov 20, 2020	0.26

Fundamentals

Market Cap ARDX : $1.33B OLMA : $1.08B
EPS ARDX : -$0.24 OLMA : -$2.03
PB Ratio ARDX : 8.97 OLMA : 2.25
Total Revenue (TTM) ARDX : $427.68M OLMA : $0.00
Gross Profit (TTM) ARDX : $395.63M OLMA : -$187.00K
EBITDA (TTM) ARDX : -$28.55M OLMA : -$197.79M

Return for Risk

ARDX vs. OLMA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARDX

ARDX Risk / Return Rank: 62
ARDX Sharpe Ratio Rank: 61
ARDX Sortino Ratio Rank: 64
ARDX Omega Ratio Rank: 61
ARDX Calmar Ratio Rank: 63
ARDX Martin Ratio Rank: 62

OLMA

OLMA Risk / Return Rank: 80
OLMA Sharpe Ratio Rank: 71
OLMA Sortino Ratio Rank: 91
OLMA Omega Ratio Rank: 89
OLMA Calmar Ratio Rank: 77
OLMA Martin Ratio Rank: 74

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARDX vs. OLMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ardelyx, Inc. (ARDX) and Olema Pharmaceuticals, Inc. (OLMA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ARDX	OLMA	Difference
Sharpe ratio: Return per unit of total volatility	0.62	1.00	-0.38
Sortino ratio: Return per unit of downside risk	1.47	3.40	-1.93
Omega ratio: Gain probability vs. loss probability	1.17	1.43	-0.25
Calmar ratio: Return relative to maximum drawdown	1.14	2.27	-1.14
Martin ratio: Return relative to average drawdown	2.36	4.83	-2.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARDX vs. OLMA - Sharpe Ratio Comparison

The current ARDX Sharpe Ratio is 0.62, which is lower than the OLMA Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of ARDX and OLMA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ARDX	OLMA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	1.00	-0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.05	-0.16	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.06	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	-0.23	+0.14

Drawdowns

ARDX vs. OLMA - Drawdown Comparison

The maximum ARDX drawdown since its inception was -98.45%, roughly equal to the maximum OLMA drawdown of -96.26%. Use the drawdown chart below to compare losses from any high point for ARDX and OLMA.

Drawdown Indicators

	ARDX	OLMA	Difference
Max Drawdown Largest peak-to-trough decline	-98.45%	-96.26%	-2.19%
Max Drawdown (1Y) Largest decline over 1 year	-33.54%	-70.67%	+37.13%
Max Drawdown (3Y) Largest decline over 3 years	-66.32%	-82.15%	+15.83%
Max Drawdown (5Y) Largest decline over 5 years	-93.76%	-93.36%	-0.40%
Max Drawdown (10Y) Largest decline over 10 years	-96.82%	—	—
Current Drawdown Current decline from peak	-83.52%	-80.72%	-2.80%
Average Drawdown Average peak-to-trough decline	-77.37%	-74.98%	-2.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.21%	33.14%	-16.93%

Volatility

ARDX vs. OLMA - Volatility Comparison

The current volatility for Ardelyx, Inc. (ARDX) is 10.38%, while Olema Pharmaceuticals, Inc. (OLMA) has a volatility of 21.66%. This indicates that ARDX experiences smaller price fluctuations and is considered to be less risky than OLMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARDX	OLMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.38%	21.66%	-11.28%
Volatility (6M) Calculated over the trailing 6-month period	46.48%	55.93%	-9.45%
Volatility (1Y) Calculated over the trailing 1-year period	61.47%	160.52%	-99.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.42%	107.97%	-18.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	84.09%	106.41%	-22.32%

Dividends

ARDX vs. OLMA - Dividend Comparison

Neither ARDX nor OLMA has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both ARDX and OLMA in my portfolio?

ARDX and OLMA have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARDX or OLMA?

OLMA has higher volatility (21.66%) compared to ARDX (10.38%). In terms of maximum drawdown, ARDX dropped -98.45% vs OLMA's -96.26%.

Which has better risk-adjusted returns?

OLMA currently has the higher Sharpe Ratio (1.00 vs 0.62), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.